Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0006%/8h= +0.7% APRpaid last 24h −0.011%

Price spread now: Nado against MEXC−0.124%7-day average −0.201% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$170.171% of the position

Long on MEXC Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 7 days−0.054%−$5 · spread now −0.124%, 7d avg −0.201%

Together, before fees−0.041%+ Points / potential airdropNado: Active · farm board−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.077% dearer against MEXC than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.201%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BNB_USDT	807.00	0.0094	pay 0.0094% / 8h	3h 32m	$85.2M	$14.9M	200x
Short	Nado BNB-PERP	806.00	0.0100	get 0.0012% / 1h	32m 13s	$1.4M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee MEXCbpFee NadobpOrdersPrice spread, now −0.124%Rate

Funding earned: $1.26
Price spread: −0.124% → −0.201%: $7.68
Slippage, 4 orders: −$6.12
Fee MEXC: 2 bp × 2 orders: −$4
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$8.18
Costs to cover: 0.171%
Break-even: 52.4 days

Slippage from MEXC: live order book, 2 min ago; Nado: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy MEXC live order book, 2 min ago	1.86 bp	3.9 bp −$4	7.6 bp −$76	21.8 bp −$2,179	37.9 bp −$19.0K
Sell Nado live order book, 2 min ago	0.12 bp	4.8 bp −$5	10.8 bp −$108	doesn't fit	doesn't fit

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX BNB/USD [WBTC.b-USDC]	L −0.0195% / S +0.0371%	1h	805.69	−0.162%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	806.71	−0.036%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.16	−0.228%	$3.0M	$29.8M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	806.60	−0.050%	$115K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.73	−0.281%	$870K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0008%	1h	805.86	−0.141%	$9.8M	—	150x	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	805.24	−0.218%	$609K	$903K	50x	as long as short
Variational Omni BNB	+0.0069%	8h	804.46	−0.314%	$4.1M	$5.5M	—	as long as short
BingX BNB-USDC	+0.0074%	8h	805.86	−0.141%	—	$13.2M	—	as long as short
Phemex BNBUSDT	+0.0089%	8h	806.75	−0.031%	$70.5M	$51.4M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0093%	8h	806.42	−0.072%	$6.3M	$18.9M	200x	as long as short
MEXC BNB_USDTlong	+0.0094%	8h	807.00	long leg	$85.2M	$14.9M	200x
Binance BNBUSDT	+0.0094%	8h	806.72	−0.035%	$519.9M	$806.6M	75x	as long as short
Lighter BNB	+0.0096%	1h	806.48	−0.064%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERPshort	+0.0100%	1h	806.00	−0.124%	$1.4M	$2.8M	20x
Pacifica BNB	+0.0100%	1h	806.25	−0.093%	$1.2M	$915K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	805.90	−0.136%	$139.3M	$84.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	805.90	−0.136%	$55.2M	$115.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	806.10	−0.112%	$52K	$222K	10x	as long as short
Bulk BNB-USD	+0.0100%	1h	806.70	−0.037%	$652K	$11K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	805.90	−0.136%	$36.1M	$58.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.65	−0.167%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	805.96	−0.129%	$79.1M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.45	−0.192%	$4.2M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.32	−0.208%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	805.72	−0.159%	$119K	$876K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	806.27	−0.090%	$390K	$596K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	806.42	−0.072%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	806.26	−0.092%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	806.40	−0.074%	$397K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	806.10	−0.111%	$8.2M	$7.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	807.17	+0.021%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	806.04	−0.119%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	806.49	−0.064%	$387K	$40K	10x	as long as short
Phoenix BNB	+0.0110%	1h	805.55	−0.180%	$173K	$35K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0131%	1h	806.19	−0.100%	$2.5M	$915K	50x	as long as short
RISEx BNB/USDC	+0.0143%	1h	806.09	−0.112%	$1.1M	$1.4M	20x	as long as short
Injective BNB/USDC PERP	+0.0157%	1h	800.33	−0.827%	$19K	$423K	30x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	806.73	−0.034%	$1.6M	$160K	25x	as long as short
Hyperliquid BNB	+0.0209%	1h	806.59	−0.051%	$51.8M	$21.5M	10x	as long as short
BloFin BNB-USDT	+0.0214%	8h	806.63	−0.046%	$18.8M	$3.0M	75x	as long as short
Hibachi BNB/USDT-P	+0.0224%	1h	805.20	−0.223%	$72K	$48K	12x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	806.74	−0.032%	$29K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0336%	1h	805.46	−0.191%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0389%	1h	805.88	−0.138%	$171K	$55K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0618%	1h	807.05	+0.006%	$3.0M	$5.3M	40x	as long as short